perpetu The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period Number of Units Date Transaction. Apr. 3 Inventory 8 Purchase 11 Sale 30 Sale! 66 132 88 55 Per Unit $225 270 750 750 Total $14,850 35,640 66,000 41,250

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Chapter1: Financial Statements And Business Decisions
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LIFO perpetual inventory
The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows:
Number
of Units
Date Transaction
Apr. 3 Inventory
8 Purchase
11 Sale.
30 Sale
May 8 Purchase
10 Sale
19 Sale
28 Purchase
June 5 Sale
16 Sale
21 Purchase.
28 Sale
66
132
88
55
110
66
33
110
66
88
198
99
Per Unit
$225
270
750
750
300
750
750
330
790
790
360
790
Total
$14,850
35,640
66,000
41,250
33,000
49,500
24,750
36,300
52,140
69,520
71,280
78,210
Required:
1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illu
different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER
Dunne Co.
Schedule of Cost of Goods Sold
LIFO Method
For the Three Months Ended June 3
Transcribed Image Text:LIFO perpetual inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Number of Units Date Transaction Apr. 3 Inventory 8 Purchase 11 Sale. 30 Sale May 8 Purchase 10 Sale 19 Sale 28 Purchase June 5 Sale 16 Sale 21 Purchase. 28 Sale 66 132 88 55 110 66 33 110 66 88 198 99 Per Unit $225 270 750 750 300 750 750 330 790 790 360 790 Total $14,850 35,640 66,000 41,250 33,000 49,500 24,750 36,300 52,140 69,520 71,280 78,210 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illu different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER Dunne Co. Schedule of Cost of Goods Sold LIFO Method For the Three Months Ended June 3
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